CGTZ
Fintech platform which provides investment- and loan-related products and services.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor investor | €0.0 Valuation: €0.0 | round | |
$358m Valuation: $1.4b | Series D | ||
| Total Funding | 000k | ||
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Zhejiang Caogen Network Technology Co., Ltd., operating under the brand Caogen Touzi (CGTZ), was established in China's competitive internet finance sector. The company was founded in Hangzhou by Jin Zhongkao in October 2013, with the online platform launching in March 2014. Jin Zhongkao's professional background includes over a decade as a financial lawyer, where he provided legal advisory services to numerous financial institutions and listed companies, complemented by experience in the bulk commodity trading industry.
CGTZ functioned as a peer-to-peer (P2P) lending platform, connecting individual and institutional investors with borrowers. Its core business was providing investment products and facilitating loans for small and medium-sized enterprises (SMEs) as well as private individuals. The platform's service portfolio focused on collateral-backed lending, primarily securing loans against assets such as vehicles and real estate, in addition to offering consumer installment credit products tailored for rural areas. The business model centered on acting as a debt B2C marketplace where lenders' claims were created and subsequently transferred via the platform. By the end of May 2018, CGTZ reported having more than 9 million registered users.
The company's trajectory was marked by several significant financing rounds. It secured a Series A investment from Shunwei Capital in 2015, followed by a Series B from Guangzhou Fund in 2016. In June 2018, CGTZ announced a Series D funding round of $358 million, led by the industrial fund of Geo-Jade Petroleum. This series of investments underscored considerable investor interest in the firm's market position. However, the company's operations ceased following a police investigation. In October 2018, authorities in Hangzhou opened a case against CGTZ for suspected illegal fundraising, and founder Jin Zhongkao turned himself in to the police. Keywords: Caogen Touzi, Zhejiang Caogen Network Technology, Jin Zhongkao, P2P lending China, internet finance, SME financing, peer-to-peer investment, collateralized loans, Chinese fintech, consumer credit, Hangzhou, Shunwei Capital, Geo-Jade Petroleum, online lending platform, financial services, investment products, debt marketplace